The production value for parts and accessories for motor vehicles in Germany has shown notable variability from 2013 to 2023. Starting at €70.47 billion in 2013, it experienced a general upward trend, peaking at €87.96 billion in 2022, with a brief dip in 2019 and a sharp decline in 2020 due to the pandemic. The value stood at €92.34 billion in 2023, representing a 4.99% year-on-year increase. Over the past two years, from 2022 to 2023, the production value grew at a steady yearly rate reflecting recovery and expansion.
Future projections from 2024 onward indicate continued growth, with a forecasted value of €103.31 billion by 2028, showing a compound annual growth rate (CAGR) of 1.78%. Trends over the last five years confirm an average yearly growth rate of around 1.79%, indicating steady but modest long-term growth in the industry.
Future trends to watch for include the impact of technological advancements such as electric and autonomous vehicles, regulatory changes, shifts in global supply chains, and the adoption of sustainable manufacturing practices, all of which could significantly influence production values.
